TORONTO _ Air Canada
, Stock Forum
) shares shot up 10 per cent in early trading Friday, rising to their highest price in more than a year, as analysts raised their price targets after the airline announced improved cost estimates.
The shares have been gaining altitude since Tuesday, and traded Friday as much as 50 cents above the previous 52-week high.
For September, Air Canada reported a load factor of 83.2%, compared to a record 84.9% in September 2012, the company said in a press release.
Trading at $4.39, the airline has a market cap of $95.1 million, based on 21.2 million shares outstanding. The 52-week range is $4.01 and $1.30.
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